Cramer Pleads Investor Caution On Plug Power: 'Can't Be A Fan Of A Stock That's Losing'
Portfolio Pulse from Shanthi Rexaline
Shares of Plug Power, Inc. (NASDAQ:PLUG) have been underperforming, with CNBC Mad Money host Jim Cramer voicing concerns about the company's financial losses. The company's stock, which once topped $1,500, now trades at around $7. Morgan Stanley analyst Andrew Percoco has given the stock an Equal-Weight rating and a $10 price target, citing negative near-term risk-reward. The company is also facing project delays and is seeking additional financing.
October 12, 2023 | 7:37 am
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Plug Power's stock is underperforming and the company is facing financial and operational challenges. It is seeking additional financing and is dealing with project delays.
The underperformance of Plug Power's stock, the company's financial losses, and the operational challenges it is facing, including project delays and the need for additional financing, are likely to negatively impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100